1953-09-09 — Page 9

MESSAGERIES

Queen's Bldg.

M

THE CHINA MAIL, WEDNESDAY, SEPTEMBER 9, 1953. *

For

MARITIMES TARIFFS IN THE COLONIES U.S. Cotton HONGKONG

M

FAST PASSENGER/FREIGHT SERVICE

Due 11.K. Tot ...Oct.

1 Nov

Yokohama

Outwards (from Europa) Lényei Marocútes

13 Sept.

* Nov.

Yokoham

Bafgun Ralgon

11 Oct,

Honkong

#del.

Nov.

JE Nay.

parties a

'Nov.

I NOT.

it Dec. Batson

"Via" Mätreifies to all Mediterranean & Wem Afrifg Fort

boulf to Medagsscar.

V

Sfrom Entore)

FREICHT SERVICE

Left

DUB

11.K. For +AK{WIFP −27 July 30 Sept. A1 Sept. 15 ft.

•Balik early del, zi Nav.

Homewards (to Agropy? Leyte Keelung

Oct.

janua & Japan Bugtlu & Tapes Madla & Japan

Leaves 18.K.

For

7 Oct.

1

Nov.

10 Nov.

H

10 Oct. "INGQUARRY"

Nov. *f*Bälgòn, "Singapore. Djhduft, Marselilen, Algiers, Oran, Tanglers, Casablanca, Le ilavre, Antwerp. Roterdam & DunkNR.

to change without notice.

EVERETT

LINES

EVERETT ORIENT LINE Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Blam, Malaya, Rangoon, Calcutta and Chittagong.

"BRADEVERETT“

Arrives Salle

Sept. 18 from Singapore.

Sept. 20 for Kobe & Yokohama.

"NOREVERETT"

Arrives Balls

Sept. 20 From Manila, Sept. 21. for Singapore,

Rangoon

Pening,

&

Calcutta,

(Accepting cargo for transhipment Kobe/Pusan and Kobe/Of{fawp

EVERETT STAR LINE

Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.

"STAR BETELGEUSE”

Arriver Sails

Sept. 10 from Singapore, Sept. 20 for Puson,

Yokohuma.

"STAR ALCYONE”

Arrives Salla

Kobe &

Sept. 20 from Japan. Sept. 21 for Singapore, Port Sweiten-

.ham, Penong,

Madras, Colombo, Cochin, Bombay, Karachi, Kharrarashabe, Basrah & Bahrein.

(Accepting cargo for transhipment Hobe/uson and Kobe/Okinawa)

EVERETT STEAMSHIP CORPORATION S/A (thcorporated in the Republic of Panama

With Limited Liablity

Queon's Building, Telephone 31206. Chinese Department: Telephono-28293.-

Pakistan Decision

To Lift Control On Jute Exports

London, Sept. 8.

The Pakistan Government has decided to lift the export price control on jute, according to official re- ports from Karachi today.

"

This was the first of several measures which form part of a new jute polley for the current year which will be shortly announced by the Pakistan Government.

Other measures were reported ty that the Arst half of 1954 may to include the free licensing of witness wider price fluctuations

during the past exports and a price support than

scheme which

will probably months-United Press.

be Introduced next year.

Jute trades in Dundee and London are forecasting the com-

bined 1953-54 crop

from

to be be-

Pakistan and India tween 6,000,000 and 6,000,000 balce against the 11,500,000 bales in the 1950-53 season.

estimato Tradera hero

that with the carry-over from Inst acapon the total world supply be frem 10,509,000 to 12,- 500,000 balos.

willi

Trade Mission In S'pore

w

Singapore, Sept. 8. A three-man Burmeso trade mission arrived today to survey the poealbilities

of expanding

trade between BurTTA

1911 estimate in causing de Molaya. preciation on the market hero

Question Not To Be Raised At GATT Meeting

German Chemical

Exports

· Frankfurt, Sept. 8.

The Farbwerke Hoechst AG., one of "The Breest Miccessor Companies of the former 1.G. Farben chemical combine, pects

that production

CX- and

year will consider-

Board Of Trade's Denial

Of

Press Reports

(PROM AN ICONOMIC CORRESPONDENT)

London, Sept. 8. The Board of Trado today denied reports that the United Kingdom is to raise the question of Colanial tarifs at this monin's GATT (General Agreement on Tariffs and Trade) meeting in Geneva.

"At the moment,” an öfficial said, "there is no intention on the part of the U.K. Government to propose new arrangements for securing more ably exceed those of last year, flexiblity in Colonial tariffs, as suggested In the Press,"

sales tils

according to the firth's business.

reports for 1932 Just published!

here.

Turnover of the firm and its four main subsidiaries in

the

If Colonial tariffs were discussed at all, lie added, it would be on the initiative of other Com- monwealth governments.

Arst half of this year amounted

At their Just full-scale wealth countries in their trade to 424,400,000. marks compared with 736,100,000 marks in the economic conference in London whhin the Empire,

the Comportwealth Prime Under GATT's "no now, DTC- whole of 1952. The gure for

however, the last year was lower than pre-Ministers agreed to condider ference" us, viously published (700 million sympathetically certain special situation cannot be remediod problems sceling the WATT for a special disperation Lariif

the importing country saks marks), because sales among Colonies." tho Farbwerke and its ab-IOR

This referred to the affleulty to make the necessary adjustment siljartes were excluded.

which has been experienced be in its torlit.

"It is therefore possible, granted cause, come pretorences between Commonwealth not considered extended to the Colonies."

1947 were not informed London quarters, that countries before

certain Commonwealth countries The Colonies Concerned are might ask GATT to approve the at a disadvantage gxtension of previously withheld thus placed

to the colonies compared with diper Connan preferences

fected.

The company's export rate rose from 21 per cent. tust year to 25 per cent in the first half of

1803.

The firm spent about 47 milton marks on research work inst year. More than 30 mil- Ilon marks of that total were used in the company's main plant pt Hoechst near here. More than 50 million marka as investments for were spent building and rebuilding produc-

ond exten- | tion installations sion of existing plants.

A spokesman of the firm sald that the investment rote' would remain unchanges during the next three years owing to work sill needed an modernisation, and extension of the plant

CX-

NEW YORK

STOCK EXCHANGE

or

APPROACH TO GATT

It is expected, however, that the United Kingdom will seek OATT& permission to Incredse bestpin of its own tariffa" while, of the same time, continuing to admit. Commonwealth goods free of duty.

OUTPUT OF

GOODS IN BRITAIN

Increase Recorded:

London, Sept. B. The quantity 25 goods and services produced In Great Britain ingreased by 19 per cent between 1940 and 1952, accord- ing to the latest publication of the Central Staustien! Office un national Income and expendi ture.

Valued at 1048 prices, the increase amountext to £1,500 million. As imports Increased by £400 mlllon the total in- crease in supplies was £1,909 million. Nearly two thirds of this increase went in higher experts.

It is understood that this move will be made in an attempt to

Of the extra supplies lett for protect domestic food producers. home use, about half went to At the moment, protection for consumers and half to fixed agricultural products takes the capital formation. The risoid restrictions on consumers' expenditure (valued

1948 Government now maximum

to the more

at

of £8,711 million. 1952 fi had fallen to £8,574

New York, Sept. 8.

upward Stocks nices eged agal today but volume dwindled still further to the Ughtest level form of quota foreign imports. Sales of dyestuffs by the Arm siray Sept. 6, 1049.

reached prices) The U Just year were described

Ds Ralls and some specially issues

want to return generally maintained but with provide a few wide gains in n

By of adjusting million, but some of this fall Only normal procedure Tallink exports. Sales of generally to market. pharmaceuticals

satia-990 istucs appeared on the Ippo tariffs as and when forest city was regained in 1933. were

stability petition threatens and the factory,

production of with 420 higher and 303 lower.

the domestic producer's The day's turnover of 740,000 of new

770,000 markel. with phan Was

shortly. Re-shores compared

This, too, would require some search work in the Year shares on Fraty arid was less mineral ull chemistry was in- than half of the total considered modifitpion of GATT rules. For

prift on an ogricul creased in view of the progress necessary for brokerage houses tural

is raised while similar the

products still adritted duty free, this Bredential pargir diloved by the Empire grower And GATT rules specifically forbid any ad- justment in tariffs which pad this

to

Investors

onwealth

The increase ip capital forma- tion was similarly largely com- pleted by 1950, while exports

The

expenditure of public continued to ruse until 1951.

and authorities fell after 1040 reached a low point 1948, when I amounted to £1,700 1048 his ex- venditure

the development of these goods to break even. had made abroad, These pro-

approached ducts had become a serious market with caution

As a month! on the basis of for bears and the many uncer tainties in the business picture,

Industrial stocks gained $1.08 on average today helped by rises ct. of 'a point in Cot effect. producis, 4 in Goodygar

Manvile, 7%

of

threat to solvents made by the September's history, view act of increasing the million ounted plondily to

Farbwerke acetylene.

Special attention was devoted to the manufacture of artificial Aures produced by the Bobingen AF fuur Textilfoss: at Augsburg, and Johns

subsidiary of the Farbwerke,

This factory, KRW producing only point in Union Carbide and a rayon and perton fibr

will start long fist of smaller gains, fibre,

Halls improved two cents in reis average with industrial ains righhing to or a poim in Atlantic Coast Line.

stood out as Chemical

UNLIKELY NOW

vand

from

£3,294 million In 1952 1948

prices). In 1952 About 45 per cent of the goods and services pro- duced in Britnin "came from

Fer manufacturing: about 12 cont camta

distributive At this stage, however, it is trudts, ning per cent from trans- unlikely that the UK. Govern-t

cent

from ment would wish to throw the port and alx per whole vexed question of Imperini agriculture, forestry and fishing.

Since 1948 income tax an the "GATT

National Insurance have taken Preference

13 to 14 There is no doubt that the

debate.

Into

per cent of personal

turning out perion continumus filament yarn in a new plant lo bb completed by the end of this year. The Grin sald that pro- duction of perion tilament yarn day outstanding feature. I would account for 85 per cant rose 53 points to a new high to see certain clauses of GATT love ̋tákon another 18-per-cent of Bobingen's total production at $39 on news that Mr W

next year.

For the

tho

income

and indice! taxes British Government-would like

People with Incomes between especially is "no new pre-

£600 and £1,000 a year pald H. Giage is seeking purchase ference" rule-revised or even

one per cent more of their In- confrol through Acquisition of abolished.

comes in tax; *people with Arst time since the 18,000 shares of stock at $40 But it is just es anxļous not to | £1,000 to £2,000 pală five per war. the. company acquired share. The Company's preferred appear to be advocating a policy cent more, old these with shares in foreign firms at the shares climbed 16 354. Olof Pestriction which might £2,000 to £10,000 15 per cent end of last year. These rm, were steady 10 Arm.

outcome of the Ex-prejudice the

more. People with Incomes the Vedepha at Vienna and the The New York Stock

United present enquiry into

over

year pald 24 £19,000 n Pontósan

de Janeiro, change bond volume at Flo

States foralen economic policy. were chiefly intended to act as $950,000, and the

rer cent more. Exchange was

Indeed, in the present stage of roles organisations abroad, the Steck

Defence absorbed 51 per cent uncertainty about America's

of public authorities spokesman

expepiti- future trade policy, no discussion

diture in 1959. Survices to person, of GATTI · future,

10 mostly education and I health, voncerning known bo

to member countriju, is ikely to absorbed 30 per cent.

On the fixed capital formed take place at Geneva this year.

by industry in 1952, industry "Xanal ducision on this ques and trade look 60 per cent, and tion, Uke that of Japan's ad-

A new housing 24 per cent meion to CATT, will probably China Mail Special. be postponed until af

after the

of the firm said.shares.-United Press. General rebuilding of the com- pany's sales net abroad made

was ot American 250,000

good progress.

A four per cent dilvdend was proposed for holders of the firm's share capital of 285,700,- 000 marks. Net profi last year was 12,100,000 morks, while the balanco cheet" total was 890,090,- 415 marks. China Mail Spécini..

New York

Foreign Exchange

New York, Bep!

01:01 1/32

Canda England (official)"

funnel

30-day duțiare K-day future

Auzicalta

New Zealand

and.

South Africa

Helgti Deniatk

Germany

Holland

Norway

Portugal

Epaka Breden

The leader of the mission, | Fraries since even the lower of these U Ayo Cho, executive officer of Agures would still leave a sur-the State Agriculture Marketing y

the Board in Rangoon, sald Burma plus over consumption on 9,000,000 bales or so experienced in keen to expand its trade with

during the past two seasons.

DEOP IN PRICES

other countries in Aga end his country has, besides rice, cotton and maize to offer.

Switzerland

Egypt Iran

During their stay here mem For the past few weeks prices

will al both for raw jute and jute goods bars of the misalon

IT have lost their firmness and visit factories in Singapore and

Turkey have begun to drop following the Federation of Malays. It is tise general world trend of other to visit Indonesia, Sarawak,

Ceylon and India before return- | Aregina commodities.

attribute this ing to Burma-United Press. to consumors

Traders here

Jack of demandt

drawin

stocks

felriy heavily on N.Y. Cotton Prices

Despite the cut ordered

In

ملا

Holivia

Colombia Cubo Mexico

New York, Scht. 8. acreagon and potential yields Prices of cotton futurca closed Uruguay in Pakistan following inst rea- today as follows B00's

sto lag. hehind pro-

In consequence, the juto trado koro is presumed for the possibili-

oyer prodhuaction, mumption in the Enturo in, still sapegtett duction

соры

Spot Marcin. 1984

MAY

July

વ

Middle East

Latin America

The Rubber

Markets

severni

The market opened onsier on pollsson on forele New York Sugar |

polley

America Singapore, Sept. 8.

disappointing orders and close

d slightly steadier tone. Prices were as follows:- No. 1 rubler per 15.

on

'fhis reported Flamboyer

In the meantime, the American delegation is expected 14 beck a Japuneso request for wt-temporary membership.

Sept.

git. Nov.

No, 2 ribber par 10,

Bept. No. 3 rubber per jb,

Beat.

unquoted 0316-6311

63-0214

No. 4 rubber per 1b.

Sept.

Spült rubber unbeled Bianka! crepe A No. 1 gale crepe

Market

***New York, Sept. 8. World No. 4 sugas futures clared today one point higher BRITAIN'S ATTITUDE

to two Japan

with lower points Under this proposal, would receive the penght of the scles of only eight contracts.

Dometic No. 0 sugar thrift concesions previously closed unchanged to one polot say-bit negolinlod

member 84!1-6422

milment with 71-70

regard to her own wuchs. Bell markets were

dealing while traders prints. This arrassement would awaited developments in the ke a purely temporary one until

raw market. Prices closed as how found of such time as

follows:

United Prezz LONDON MARKET

Lordon, Sept. 8.

conTM

Production Estimate

Washington, Sept. #. Colton production in the United States is expected to redth 15,150,000 bales tá the 1953 setson, apourding

1slest 10 1 estimate. This

bales 854,000 above the August forecast and about air a million balesTMaGoyo`linde expecta-

tions.

qmela}

With a cotton carryover on Anaust 1 of abous live

daler, in the United

States are now estimated at more than 20,000,000 bales. On present demalki pross bocti, a further inpresse Ini alcoks on hard by next Aprust la ndteated--China Bfall Special..

Grain Prices

In Chicago

Chicago, Sept. D.

Paces of grain filines closed today as follows-

Wheat (No. 3. red, per bushel in

Spot

103

Sept, 1935( 190 ) 1994-15

Doc.

March 1854

2003-

. Mer

Como, 1, yellow, per bushël în crnits)

Spot

Bont.

March that May

15221-33

R20 (Prices per bushel in gentaj

Hept

27000 12431-135 Ons Prices per bushel in cente

Sept.

729) Dec. Soybeans Prices per bushel In cenis)

Spot

Sept.

Nov,

Jan. 4064

March

Xay

263 nom.

25934

25-01-14 2005

SHARE MARKET

(From Our Correspondent)):

Business dead on tip Bloch Exchange Whis morning rincun.ed to $180.120. Ncbn quotators nod the morning'e transactions→ SHAKEN BUYERS BELLUKS SALES BANKS

*HK/Dank INSURANCES

Union

Underwa ilk. Fire DOCKS, BIS K. Whan Dock

rovklont

Wheelock,

LAND. ETC.

4.00

**{. Hotel. 708 7.00

HI Land UTILITIES

TTER XD ... 34}1⁄2

Pak Tina

(olg) *****

Peak Tran

42

(Now... 21.10

SIGT FATTY

£

30 #

125 100

List (0) 12.80 17.70 7300

Taght (N) 0.90

Electric D 20.60 1700 25.00

21.70

STORES, ETC.

Dairy

20.30

W

COTTONS

Tenille MISDELLANEOUS

Yongtard

$45

.... 5.00

LONDON TIN

MARKET

London, Sept. 4. The tin market was firmer. Spot tin was marked down 43 to £819 and three-renthe Un rose £44 to £612 per long son. Tumaver was 40 tons of which five long weig for coch. Closing. pripes were:

Bpolin, buyers

sellers Diners

Barley-Price per busted in cents) is month tin, büyen qili

Epat.....*********

200 lbs. New York flour, $13.70 nom-United Press,

dick.

Helfern Buithesa Settlement

dils to dio

—United Prof.

JAPANESE BONDS Exchange Rates

London, Sept. 8.

Japanese bonda

"A" 148 of 1809; "D" (48 of 1019) "C" (da of INIT) "D" (6s

of 1729)

"E" (54% of 1050)

***** (Tokyo Sijs of 19201 "G" (Tokyo 39 of 1912) Conasia

8212

713

1290

Busines was done In the local niambia "

4th matkat exchang merung at the following rates:wed 1009, US, aditur per #1)

132

Sterling notes (per £11 (80%) Indunoslay guilders ((per- (50) 100

001%

| Štark Lipnim (per 100) 17

Singapote (Streite)

Indo China plastres - (per 100)

Ugly Situation In World Wheat Markets

By Sydney S. Campoil, Router's Financial 'Editor)" ·

There is at least a chance that the weakness of Wall Street and of wheat may herald the post. war U.8. business setback which hitherto in the past-war period has been constantly predicted and constantly falsified. Wall Street acts very badly. Weakness is too mild a word for whent s statistical position, which begins to look very ugly The artificial stability of world wheat Indeed. export prices is increasingly precarious. It is in more danger of collapsing than at any time since the war. If it did collapse, it could bring other things down with it.

"The major determinant of the payers being short of money in U.S. and world business outlook, take up tax anticipation perila namely the U.S. money position, tates adequately, they hayd After Honey cnough to take up swinging from pa extreme of Hight | Treasury bills and the

looks

4

Ilttle better.

the

Oftacting the

April id ab azurenje of a-septetiber Of Freieury's

In June and July, casy money

may be only because pollex hay swing back to lightly the business prospect itself is re tight of centre.

gürded more catiously, In ́ u In the past few weeks the U.S.slump monty i always cogy! It banks have averaged anall not joins Hi the general un

· unamplay= the from futures borrowings

central mont; but that végs bank banking system, contrasting with of how to vold a the heavy not borrowings which the Federal Reserve enforced in ought to be merely a

the one extreme, and The dificulties created by the April at with the large free reserves which ceiling on the national debt are the Fed allowed the banks to a temporary accident arising out have in June and July at the of U. S. constitutional proce other extreme.

dures, seasonal factors, and the The money position is easier timing of Congressional sittings than money policy. As the car on

the

one hand ood porations seem to have large tree Treniúty's

annual funds, the Treasury, bill rate has income

the other cycle on

countries in relum for com- higher with inles of 13 ไป

The rubber market was multilateralarin nedollatione contract No. 4 (world) quiet with No.

1 RSS spul could be bold. quoted at 194 pangg pound. Prices

1.00-2.09

7.BO

$20

closed as follows:-

02001

Settlement Hoved terms;.

.1458

Oct.

00234

Nov.

1

Dec.

Oct./Dec.

Jan Marcia

Apri/June

Tip 1914-1924 1001

July/Bept:

-United Press.

NEW YORK MARKET,

New York, Sept. 8.

The British Government has so of futures | tar refused to disclose iis afištudo

dwards this proposal.

It is pointed out in informed quarters. howiver, that much as Britain might dislike the arrange- ment, a declion whether to oppose it or not must take full account of the possible font of Its detions upon American opinion.

This means that Britain may

Rubber fúlurea closed today | hayo ta gruent.

Ays points tower to two points with other cou

higher with fales of "233 cqn" its own and Colorilat mückets in tracts.

Viarcli

Bept. Nov

per lb. fob contract". Ng.

Nove Jan. 1954 March

5.3 bla

3168 DOM.

3.ba nom. 231 bid ५-३०

060

bla

器

intled Press.

been falling and the Treasury's It would be quite prom the

big mid-September refunding my central bank to perform looks like being successful technicalities pozded to affect though successful

The

only In relation this technicality, Navertheless,

to Washington's endly reduced they, will have to be performed Afranions for funding and vi* and as they do not accord well...

national debt. tending the

with Republican monetare: Fedoral Reserve was philosophy, there is bound to be bound to help the Treasury's some uncertainty, until they arq operation, If its

help was Perform of the sellers on Wall

for ble querilor all merkals was how far the sme

nocenary.

The

fear à, repetition of the

Intra-degler switching oppra-London Foreign market, breaks which oc

between March December Hergijnted for all

bu

the total contracts made "market,"containe

Exchange

the Com

to extend

10 New York

Affsterdam

gule with traders at 10 da

Udaymoods, Spot. Smoked steeld werg' ayöte

Venetijela

Far Eat

closings ye

India rubitan Hongkong Judonesia Singapore

1934

United Press.

Der

mep

utmost.

Zurich

London, Sept. A. 2.00 5/8 - 2.00 12/10

1959 LOPK 310.00 - 190.35

10.98% -10.00 -

Bioekbo.m146632MMESS?

at involve Copenha the Idenj.df the Tasben nom Board of" Trade," has decided to Destaca

1330 nom. lead the British team to Geneva slasked Mark 1736-174,

·Mark

2.30 HOTL

himself.

- 11.6936 - 13.004% ?

United Press.

410 banks had to raise money by cirred "just" after" Helling tax anticipation Girline

entes fpater then taxpayers des

cundulated

'thio

the"

and

| 1940 for, the Fort", Abelkremir

Grul Dalwall street mayʻtaka.

mana to buy the

·üßd 'all

thèm: and the ima efee. Brinkola", "WHICH." J4. thong "Worth"

of the Treasury withdrawing" (14

can breathe money from the banks in the US, han cycle

under the debt again. If the money managers ka eltoit to stay celling,, (In practice the Treasury Washington keep the'r

Harve rotrains from paying money into after the Teftamity's" | |; sted". the banks, but that comes to September financing, all may be well. Fill their nýrys, pay be ́pressures | severely deiled and, pending, the 80 far from | outcome, markets are likely to

the same thing:)

"The first" of

does not yet arisa,

| corporations and

other" tax, i remain, cautious/Router.